Oxkits.co.uk would like to welcome our first sponsor who will be helping towards the upkeep of the junior team.
This will be the 2017 sponsor & altho they are not local to us, they are a close friend to the juniors and any help is greatly appreciated. We promised to introduce them & give a little bit of information about Ashleigh Mortgages
Ashleighs are mortgage brokers who provide services to anyone looking to secure a mortgage. www.ashleighmortgages.co.uk/mortgage-broker-brighton.htm
So my first question was what is a mortgage broker? what do you do?
Basically, a mortgage broker is a representative for who is licensed to provide mortgage advice & broker mortgage deals Kcayps.org.uk is a Brighton mortgage broker company. Their function is very similar to that of an insurance broker. A bank representative that works in one particular lending institution is employed by that bank and is aware of every mortgage product that their bank offers. Therefore, when you go into your bank for a mortgage the representative analyses your situation and chooses the best product their bank offers for your needs. Mortgage brokers act as agents for all Canadian banks, Credit Unions, Trust Companies, finance companies and individual private lenders. Subsequently, when you visit a mortgage broker for mortgage financing they analyse your specific situation and choose the best product from one of the 50 Canadian lending institutions at their disposal.
In Ontario, mortgage brokers are educated professionals who are licensed and regulated by the Financial Services Commission of Ontario (FSCO). FSCO is merely one of the government agencies that monitor the business practices of mortgage brokers, each province has an agency that provides the same service to Canadians. As a result, these agencies certify that Canadians are being given reliable protection, a thorough comprehension of mortgage products, and a standard of service to meet their individual needs.
So, how exactly will you benefit by using a mortgage broker?
Save time: Many people try to shop around their own mortgage by travelling to the 5-6 major Canadian retail banks, which can be very time-consuming. A mortgage broker will meet you where it’s convenient for you and they will shop your mortgage for you saving you a lot of valuable time.
Credit Score: One of the most important considerations for Canadians when shopping around at different banks is their credit score. Each time you go to a bank and apply for a mortgage, they will make a credit inquiry, too many inquiries will negatively affect your credit score. A mortgage broker only requests one credit inquiry and then forwards that to the banks they are shopping.
Save Money: Many people are under the false assumption that it is expensive to use a mortgage broker. In fact, most brokers do not charge any fees because they are paid by the banking institutions for bringing them in business. That’s the best part, you receive unbiased advice about your mortgage and it doesn’t cost you any money.
Best Rates: Using a mortgage broker guarantees you that you will get the best rates available, independent mortgage agents rely on repeat business so they do not play games, they always find their clients the best rates possible. Additionally, as a reward for bringing them millions of dollars per year in business, many banks will offer special rates only available to mortgage brokers for their clients.
Fast Approvals: Usually, a mortgage broker will have your mortgage approved within 24 hours, at the very best interest rates. Even if the retail banks do approve a person’s mortgage fast, it can sometimes take weeks to negotiate them down to their best rate.
Feel At Ease: A mortgage agent will take the time to explain the entire process to the mortgagee, this is especially comforting for first-time homebuyers. They will take the time to explain all of the terms and conditions of a mortgage commitment so there are no surprises later. They will usually present more than one option for clients, and be able to explain the differences between each bank, this will help consumers make educated choices about which banks they would rather use.
Where will your next mortgage financing experience be?
Today, it is no longer necessary for Canadians to place their trust blindly in their bank for their mortgages. There is now a vast amount of information available to consumers, with all of the available information it is advantageous for consumers to use the services of a Canadian mortgage broker to help them analyse which products will best suit their needs. Canadians should realise that by using a mortgage broker they are not choosing between a broker and their bank. A mortgage broker can place your mortgage with your bank if that’s what you ultimately decide. What should you ask yourself though is if you are a client at TD Bank do think the bank representative will tell you if Scotia bank has a better interest rate? Your mortgage broker will.